- ISIN
- US4223591094
- CUSIP
- 422359109
- Issuer
- Heartland
- Inception Date
- Dec 28, 1984
- Category
- Small Cap Value Equities
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
HRTVX Performance Chart
Heartland Value Fund (HRTVX) is up 20.0% since the beginning of the year. HRTVX is currently trading at $61 per share. Investors who bought $1,000 worth of HRTVX shares 5 years ago would now be looking at an investment worth $1,712.
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Returns By Period
Heartland Value Fund (HRTVX) has returned 20.04% so far this year and 40.49% over the past 12 months. Over the last ten years, HRTVX has returned 11.76% per year, falling short of the S&P 500 Index benchmark, which averaged 13.33% annually.
Heartland Value Fund
- 1D
- 1.20%
- 1M
- 2.08%
- YTD
- 20.04%
- 6M
- 21.69%
- 1Y
- 40.49%
- 3Y*
- 22.75%
- 5Y*
- 11.35%
- 10Y*
- 11.76%
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.64%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- 23.05%
- 3Y*
- 19.90%
- 5Y*
- 11.79%
- 10Y*
- 13.33%
HRTVX Monthly Returns History
Based on dividend-adjusted daily data since Dec 28, 1984, HRTVX's average daily return is +0.05%, while the average monthly return is +0.98%. At this rate, an investment would double in approximately 5.9 years.
Historically, 62% of months were positive and 38% were negative. The best month was Dec 1999 with a return of +19.6%, while the worst month was Oct 1987 at -26.5%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.
On a daily basis, HRTVX closed higher 54% of trading days. The best single day was Oct 13, 2008 with a return of +9.6%, while the worst single day was Oct 22, 1987 at -16.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.80% | 5.19% | -5.33% | 10.00% | 1.08% | 0.56% | 20.04% | ||||||
| 2025 | 1.90% | -2.65% | -4.87% | -3.77% | 7.33% | 5.39% | 0.26% | 8.70% | 0.97% | -3.02% | 3.09% | 2.58% | 15.94% |
| 2024 | -3.78% | 3.53% | 7.12% | -5.54% | 3.57% | -1.06% | 10.63% | -1.30% | 0.59% | -0.53% | 10.44% | -7.11% | 15.76% |
| 2023 | 9.03% | -1.45% | -4.38% | -0.65% | -3.14% | 7.18% | 5.12% | -1.44% | -4.47% | -4.54% | 6.45% | 9.91% | 17.15% |
| 2022 | -4.59% | 1.47% | 0.44% | -7.26% | 3.18% | -7.75% | 8.26% | -2.62% | -9.05% | 10.00% | 3.66% | -4.13% | -10.04% |
| 2021 | 2.80% | 6.86% | 2.57% | 3.65% | 2.65% | -1.97% | -1.18% | 1.07% | -2.93% | 5.50% | -3.23% | 4.76% | 21.86% |
Benchmark Metrics
Heartland Value Fund has an annualized alpha of 3.81%, beta of 0.72, and R2 of 0.54 versus S&P 500 Index. Calculated based on daily prices since December 31, 1984.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (97.92%) than losses (94.10%) - typical of diversified or defensive assets.
- This fund generated an annualized alpha of 3.81% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Alpha
- 3.81%
- Beta
- 0.72
- R²
- 0.54
- Upside Capture
- 97.92%
- Downside Capture
- 94.10%
Expense Ratio
HRTVX has a high expense ratio of 1.04%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
HRTVX ranks 79 for risk / return — better than 79% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Heartland Value Fund (HRTVX) and compare them to S&P 500 Index.
| HRTVX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.36 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.45 | 2.69 | +1.76 |
| Martin ratioReturn relative to average drawdown | 15.31 | 12.34 | +2.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Heartland Value Fund provided a 7.74% dividend yield over the last twelve months, with an annual payout of $4.71 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $4.71 | $4.71 | $4.26 | $2.54 | $1.22 | $6.27 | $0.33 | $1.20 | $2.45 | $2.65 | $1.44 | $2.97 |
Dividend yield | 7.74% | 9.29% | 8.91% | 5.65% | 3.01% | 13.50% | 0.76% | 3.12% | 7.26% | 6.43% | 3.56% | 8.25% |
Monthly Dividends
The table displays the monthly dividend distributions for Heartland Value Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.71 | $4.71 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.26 | $4.26 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.54 | $2.54 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.22 | $1.22 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $6.27 | $6.27 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Heartland Value Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Heartland Value Fund was 61.68%, occurring on Mar 9, 2009. Recovery took 522 trading sessions.
The current Heartland Value Fund drawdown is 0.15%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -61.68%Mar 2009 | 1y 7mo | 2y 23d | 3y 8moJul 2007 - Apr 2011 |
COVID crash2020 | -46.31%Mar 2020 | 1y 8mo | 8mo 3d | 2y 4moJul 2018 - Nov 2020 |
Black Monday1987 | -34.46%Dec 1987 | 2mo 2d | 3y 9mo | 3y 12moOct 1987 - Oct 1991 |
1998 bear market1998 | -31.51%Oct 1998 | 5mo 18d | 1y 11mo | 2y 4moApr 1998 - Sep 2000 |
Dot-com crash2000–2002 | -30.61%Oct 2002 | 5mo 20d | 7mo 29d | 1y 1moApr 2002 - Jun 2003 |
Drawdown Indicators
| HRTVX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.68% | -56.78% | -4.90% |
Max Drawdown (1Y)Largest decline over 1 year | -9.50% | -9.10% | -0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -23.17% | -18.90% | -4.27% |
Max Drawdown (5Y)Largest decline over 5 years | -23.17% | -25.43% | +2.26% |
Max Drawdown (10Y)Largest decline over 10 years | -46.31% | -33.92% | -12.39% |
Current DrawdownCurrent decline from peak | -0.15% | -2.97% | +2.82% |
Average DrawdownAverage peak-to-trough decline | -9.03% | -10.72% | +1.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 1.97% | +0.78% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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